As a coach and mentor to loan originators all around the country, I am often asked, what are the key differences between those that consistently reach higher levels of production and those that struggle to maintain minimal levels of performance? While there are a number of things that I can identify, one comes to mind this time of year, Presence! Not the kind left under the tree, or the ones we give during this holiday season of good tidings; but rather our physical presence and connection with those we work with and those we are hoping to work with.
I have commented in past blogs about the way to approach the holiday season with all the parties and special events. I have shared my thoughts on specific “do’s and don’ts” about being a professional during the holiday season, today I want to talk about the single most important gift, the gift of your personal time. Your physical presence during the next five to six weeks will help set the tone of your relationships for the upcoming year. Think about it, while most in our industry set their lives on “cruise control” after Thanksgiving, I try to convince my people to be out, active, and engaged.
The weeks between Thanksgiving and the New Year Celebration are not just for parties. These weeks can be critical in building new relationships, repairing older issues, and the basic engaged maintenance everyone needs to do in the personal referral industry! Be the mortgage professional out networking and encouraging your referral partners to put together that last transaction for the year. Just one extra transaction can often be a big difference.
The other critical piece of “presence” is just being there when others aren’t. Often as the year rolls down, mortgage professionals and their real estate referral partners get more caught up in where the next party is, instead of where are the potential opportunities just waiting for me to find? For those Realtors® who are in their office this time of year who are seriously working to put together a transaction, they are not there because the want to be there; they are working because they HAVE to be there! Same thing holds true for potential clients. This time of year, nobody is out looking at properties because they are bored or want decorating ideas. People out looking for homes right now are looking because they HAVE to find a home NOW!
I know some of you may doubt that it is worth the effort to be engaged with this kind of effort while others are attending parties and having fun. My point is it’s not mutually exclusive. You can work hard and be social at the same time. But the relationships you can find and build this time of year by getting out and really working with those who really need to put a deal together, are relationships that will reward you all year long. So get out and be engaged. Your presence is often worth more than your present.
One quick note, I wanted to share with you the stories of three originators who last week go involved in their own “Black Friday Sale Event” last week. One originator in Virginia used the concept and put together three new loans thanks to this promotion and was asked by a number of his agents if they could continue the “sale” for another week so that other clients could participate!
Another loan officer got their first deal from a sought after builder on Friday when they couldn’t reach their primary referral partner. Not only did they get that deal, they were asked to meet this week for lunch to discuss future opportunities!
The last originator was able to convert a refinance opportunity into a listing/purchase opportunity for one of their Realtor® referral partners when they explained that buying that “forever home” today was a much better deal than just lowering the payment on their current home!
Congratulations to you three for taking advantage of a simple strategy! If any of you have used any of the strategies shared on this blog to grow your business, or have a success story you would like to share, I would love to hear it. Please reach us at: www.improvemytomorrowcoaching.com or email me at Michael@Improvemytomorrowcoaching.com